Ghana: Staff Report for the 2014 Article IV Consultation

May 30, 2014

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Ghana: Staff Report for the 2014 Article IV Consultation, (USA: International Monetary Fund, 2014) accessed November 27, 2024

Summary

This 2014 Article IV Consultation highlights the emergence of large fiscal and external imbalances since 2012, which has created significant challenges for Ghana. A swift return to macroeconomic stability in 2013 was thwarted by weaker external and domestic conditions. Reflecting lower gold and cocoa exports, the current account deficit exceeded 12 percent of GDP. Although recently revised estimates point to an only moderate slowdown in growth to about 7 percent, the fiscal deficit target of 9 percent of GDP was missed by about 1 percentage point. Ghana’ short-term economic outlook is subject to significant risks, and growth is projected to slow to 4¾ percent in 2014.

Subject: Expenditure, External debt, Labor, Public debt, Revenue administration, Wages

Keywords: Authority, CR, Deficit, Financing needs, Foreign currency, Fund staff estimate, GDP deflator, GDP figure, Global, IMF staff estimate, ISCR, Real GDP, Wages, West Africa

Publication Details

Pages:

73
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/129
Stock No:

1GHAEA2014001
ISBN:

9781616355609
ISSN:

1934-7685

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